Noticias

Citas de Thomas Greco

Within the [Red Global de Trueque] trading fairs, no official money is exchanged. Pesos and dollars are not permitted becasue of the tax implications. Argentina has a value added tax (VAT), which is a kind of sales tax. As long as no official money is involved, trades are not taxed.(…) There is a considerable amount of confusion and controversy about whether cashless trading is taxable, either constitutionally or under IRS regulations, and whether or not members need to report their trading on their taxes returns. If trades are reported, should the seller report the credits she or he received, or should the buyer reort the value of the goods and services received? Which party has received the income? Is the systema administrator responsible for reporting members' business, transactions to the IRS or other tax authorities?

The National Government of Argentina has officially recognized the value and usefulness of “barter” exchange as a weapon against unemployment and has lent its support to the promotion of “multireciporcal exchange of good and services” throughout the country.

The willingness of others in the community to accept the new exchange media in payment for goods and services, especially the necessities of life, does two things: it encourages the application of people’s energies and resources to life-sustaining activities, and it provides the community with a medium of exchange that by its very nature is abundant, democratic, and locally controlled.